May 4, 2010

GOING SHORT ON AMERICA: Congressional Hypocrites Were Betting Against Stocks As Country Collapsed.

UPDATE: Reader George Poletes writes: “A member of Congress purchasing bearish exchange-traded funds is analogous to a professional baseball betting against his own team. And in the most famous instance of the latter case, it resulted in Pete Rose’s lifetime ban from the sport.”

ANOTHER UPDATE: Various readers object that Rose doesn’t seem to have ever bet against his own team, making him more ethical than members of Congress. Good point. . . .

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